South Carolina Code of Regulations
Chapter 117 - DEPARTMENT OF REVENUE
Article 24 - MISCELLANEOUS TAXES
Section 117-1550.3 - Measure of Tax
Universal Citation: SC Code Regs 117-1550.3
Current through Register Vol. 48, No. 9, September 27, 2024
The income tax imposed by Section 12-13-30 shall be measured by the net income from all sources except interest income as is specifically exempted by law from such tax. Exempt income items are: (1) Income from obligations of the State of South Carolina and its political subdivisions. (2) Income from obligations of the United States and its possessions.
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